I have to say that like most, I feel a bit overwhelmed. I have completed reading Be A Realestate Millionare and 97% through Profit from Real Estate Right Now.
Out of all the options, assignments seem the best for me but I have a few questions..
1. Should I get an attorney to write up the assignment paperwork? If so, the book mentioned having the buyer pay for it but I don't see how.
2. I am concerned with the "earnst" money that needs to be given to the seller at the time I lock up the property. I really do not have it. If I understood the book correctly, it mentioned making that due at the end of the 30 or 60 days but I do not really understand how I would not be able to pay it if the house did not sell. I read this a few times and just do not understand the exit strategy.
I think I have a pretty good handle on finding buyers and sellers and I am considering using the same mortage broker that helped me refinance our home a few years ago. She is great.
My 2 biggest concerns are, as I am sure most have, loosing what little money I put in and being possibly sued because I was doing something illegally on a technicality. Just want to make sure I have my ducks in a row prior to going into it.
If these are duplicate questions, I am sorry. I spent a lot of time looking for these and did not see them.
Angel Gates in Snohomish, Wa.